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China Steel output has increased dramatically on March ,spurring price slide

Writer:Fanny KangDate:2017-4-17 15:44
China Steel output has increased dramatically on March ,spurring price slide 
 
China Steel output has increased dramatically on March ,spurring price slide
 
BEIJING (Reuters) - China's steel output rose 1.8 percent in March to a monthly record of 72 million tonnes.That implies an average daily run-rate of 2.323 million tons, beating the previous monthly record in June. Output for the first three months was 201.1 million tons, up 4.6 percent from a year earlier.
Steel output has risen much faster than end-user demand, leading to increased inventories, BMI Research said in a note Monday before the data.
“I would expect output to decline from here,” Kevin Bai, analyst at CRU Group, said by phone from Beijing. “Some of the steel mills have released lower price guidelines for May and their outlook is quite negative for the second quarter. They will consider some more controls on the supply side to maintain prices.”

TypeInfo: Industry News

Keywords for the information:Steel output  China steel  Steel price